Ray Dalio Bridgewater Associates
Ray Dalio is the founder of Bridgewater Associates, one of the world’s largest hedge funds, known for its unique “principles-based” culture and systematic investment approach. Dalio’s investment philosophy emphasizes diversified portfolios, risk parity, and the importance of understanding economic cycles in shaping investment decisions. He has authored several books, including “Principles: Life & Work,” in which he details his management philosophies, personal experiences, and life lessons.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard FTSE Emerging Markets ETF
VWO
|
+$219M |
| 2 |
Gilead Sciences
GILD
|
+$30.6M |
| 3 |
Microsoft
MSFT
|
+$27.5M |
| 4 |
POT
Potash Corp Of Saskatchewan
POT
|
+$20.5M |
| 5 |
Eastman Chemical
EMN
|
+$19.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$384M |
| 2 |
iShares MSCI Emerging Markets ETF
EEM
|
+$62M |
| 3 |
Apple
AAPL
|
+$30.1M |
| 4 |
RTX Corp
RTX
|
+$20.5M |
| 5 |
Fossil Group
FOSL
|
+$20M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 2.42% |
| 2 | Energy | 2.21% |
| 3 | Materials | 2.04% |
| 4 | Healthcare | 1.26% |
| 5 | Industrials | 0.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
Bristol-Myers Squibb
BMY
$132B
| – | – |
-10,228
| Closed | -$523K |
|
352
Boston Properties
BXP
$11.1B
| – | – |
-2,500
| Closed | -$289K |
|
353
Core Laboratories
CLB
$521M
| – | – |
-5,949
| Closed | -$871K |
|
354
CMS Energy
CMS
$22.3B
| – | – |
-10,300
| Closed | -$305K |
|
355
Capital One
COF
$134B
| – | – |
-13,241
| Closed | -$1.08M |
|
356
Cisco
CSCO
$479B
| – | – |
-313,780
| Closed | -$7.9M |
|
357
Delta Air Lines
DAL
$60.1B
| – | – |
-36,105
| Closed | -$1.3M |
|
358
Dillards
DDS
$9.56B
| – | – |
-2,200
| Closed | -$240K |
|
|
DHC
359
Diversified Healthcare Trust
DHC
$2.14B
| – | – |
-34,259
| Closed | -$710K |
|
360
Healthpeak Properties
DOC
$14.8B
| – | – |
-26,681
| Closed | -$965K |
|
361
Dover
DOV
$28.4B
| – | – |
-23,419
| Closed | -$1.52M |
|
362
Duke Energy
DUK
$97.3B
| – | – |
-4,834
| Closed | -$361K |
|
363
eBay
EBAY
$49.7B
| – | – |
-229,403
| Closed | -$5.47M |
|
364
Edison International
EIX
$26.4B
| – | – |
-7,937
| Closed | -$444K |
|
365
Enbridge
ENB
$112B
| – | – |
-65,900
| Closed | -$3.16M |
|
366
Enovis
ENOV
$1.53B
| – | – |
-4,682
| Closed | -$459K |
|
367
Equity Residential
EQR
$25.1B
| – | – |
-5,026
| Closed | -$310K |
|
368
Exelon
EXC
$47B
| – | – |
-15,659
| Closed | -$381K |
|
|
FISV
369
Fiserv Inc
FISV
$27.9B
| – | – |
-8,736
| Closed | -$282K |
|
370
Flowserve
FLS
$10.2B
| – | – |
-11,862
| Closed | -$837K |
|
371
Federal Realty Investment Trust
FRT
$10.3B
| – | – |
-2,100
| Closed | -$249K |
|
372
Graham Holdings Company
GHC
$5.02B
| – | – |
-526
| Closed | -$222K |
|
373
Genworth Financial
GNW
$3.71B
| – | – |
-22,937
| Closed | -$300K |
|
374
Groupon
GRPN
$951M
| – | – |
-1,345
| Closed | -$180K |
|
375
Hartford Financial Services
HIG
$39.3B
| – | – |
-9,256
| Closed | -$345K |
|
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Ray Dalio's Q4 2014 Portfolio in Review
As of Q4 2014, Ray Dalio held 456 positions worth $12.5B, down 2.4% from $12.8B the previous quarter. Its ten largest holdings account for 89% of the portfolio.
Ray Dalio's Q4 2014 filing shows 93 new, 144 increased, 94 reduced and 121 closed positions. Its largest new stake was Potash Corp Of Saskatchewan: 601,600 shares worth $21.3M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $384M.
By sector, the portfolio is most concentrated in Technology at 2.4% of assets, down from 2.6% a quarter earlier, followed by Energy and Materials.
- Ray Dalio's largest Q4 2014 buy was Potash Corp Of Saskatchewan: 601,600 shares worth $21.3M.
- Ray Dalio added most to Vanguard FTSE Emerging Markets ETF in Q4 2014, an estimated $219M increase.
- Ray Dalio's biggest Q4 2014 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $384M.
- Ray Dalio fully exited United Parcel Service in Q4 2014, selling an estimated $14.7M.
- Ray Dalio's ten largest holdings make up 89% of its $12.5B portfolio in Q4 2014.
- Ray Dalio opened 93 new positions and closed 121 in Q4 2014.
- Ray Dalio's portfolio value fell 2.4% quarter-over-quarter to $12.5B.
Based on Bridgewater Associates's 13F filing for Q4 2014, filed 11 Feb 2015.